USD/CAD’s fall from 1.4689 extended to as low as 1.3504 last week. Initial bias stays on the downside this week for 1.3456 key support level. As long as 1.3456 support holds, fall from 1.4689 is viewed as a correction. The larger up trend remains in favor to continue. Above 1.3858 minor resistance will turn bias back to the upside for retesting 1.4689 high first. Nonetheless, firm break of 1.3456 will bring deeper fall to 1.2830 support next.
Posted in: Latest Forex News– February 28, 2016